Shift from Oil to Natural Gas Already Underway

The Wall Street Journal is reporting that the U.S. has already begun to implement a massive shift away from using oil as a transportation fuel and, instead, rely more and more on domestically produced natural gas.

To support this claim, Russell Gold at the Journal cited a recently released report prepared by commodity specialists at Citibank titled “Global Oil Demand Growth – The End is Nigh.”

“The shift from oil to gas is already underway in the US, where the shale gas revolution is giving a large economic incentive to make the switch. As the US shift gains pace, politics, greater natural gas availability and environmental concerns are facilitating the trend into the global market.”